How is the horizontalization of media affecting audience buying?
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How is the horizontalization of media affecting audience buying? > What is happening to media consumption? > Why is 'Where's Wally' relevant to us all today? > What are the implications for audience buying? > How can you engineer technology to deliver the efficiency it promised?
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How is the horizontalization of media affecting audience buying?
- 1. How is the horizontalization of media affecting audience buying? Josephine Pike, CDM Bannerconnect, a GroupM Agency
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- 7. “Where’s Waldo?” optimal search path
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Editor's Notes
- Good Morning, I am Josephine Pike and for 11 years I was based in London working in the EMEA marketplace with brands like Expedia, Disney and Skype. In the last two years I’ve made the Netherlands my home and I work for Bannerconnect the specialist division of GroupM NL for technology, data activation and programmatic media buying. Today I am here to talk about the most interesting topic affecting our industry … the horizontalization of media and the affect it is having on audience buying.
- When I started writing this presentation I never thought that I would be on stage talking about Waldo and marketing technology … BUT it is the perfect example to illustrate what is happening to audience buying whether you are a global brand or an sme. Is anyone not familiar with Where’s Wally, or Waar is Waldo? Originally published in the UK during the 80’s the brand is now a global. Waldo is a world traveler with a distinctive dress sense. Originally a print title, and now also a tv show, a great facebook page, and a brilliant app. The aim of the game is to find Waldo in the image.
- The thing is that over time they made Waldo harder to find …. First they reduced his size from 1 cm to 0.17 cm Then they surrounded Waldo with more characters. The very first Waldo included 250 characters, and the latest has Waldo surrounded by 850 characters. Waldo has never been so hard to find & the same is true for our industry. Audiences, and by that I mean people, have never been so challenging to reach efficiently and effectively.
- And, why is that? Technology choice, and the demands of time are driving a change in the way that we all consume content. Take Ryan, and his programme Ryan Toy’s Review. This kid has a tough job …. He is filmed playing with toys as he grows up. At the age of 5 ½ he has a good future ahead of him. His programme is watched 24 million times a day across the globe, and the 2016 advertising revenue for reaching his audience was 12 million euros. You may not know the example, but you all know that I am not talking about a traditional TV example here. I am referencing You Tube. Now audiences don’t view media as TV/Video/Digital/Radio they view it as content on a device at a time of their choice. This is what I mean by the horizontalization of media. This shift in audience consumption is driving two key changes: The increased use of technology and data for audience buying – note this is no longer media buying. All content and therefore all media, will have a digital heartbeat.
- What does this mean for all of us here today? We live in a world where we, and brands, are defined by what we share. All content that is shared has a digital heartbeat, and by heartbeat I mean an output like a cookie, a user id, and also an AAID or IDFA. Channels are changing because of the horizontalization of media. Recently Google has launched YouTube TV – challenging cable subscription businesses, Twitter has launched live sports broadcasting, and Amazon has launched Amazon Go. These are changes in services, but how might this change look for an actual campaign? The following example is from the UK and the very talented team at JC Decaux.
- Now ghostbusterswaterloo was an outdoor campaign This outdoor campaign was the most shared – therefore digital – event in the UK for 2016. This outdoor campaign won numerous digital awards. Why is this important? Digital media and specifically programmatic media may represent a small part of your overall marketing schedule, and it may continue to do so. What will change is this: All audiences will be planned and bought using programmatic technology. If all content and therefore media has a digital heartbeat then it will be powered by programmatic technology. That means that even if programmatic is a small proportion of your marketing schedule it has the ability to influence your total marketing output. If you are not familiar with the options, and the differences that programmatic technology offers please embrace it. There are differences which will affect how you buy audiences and how long, and therefore how much money you need to invest to win and keep customers.
- Let’s go back to Waldo. Randy Olsen Senior Data Scientist for Data Is Beautiful. He’s a fan of Waldo, and he collected every Waldo ever produced. He mapped Waldo’s location, and then he wrote a script to find Waldo in the shortest time possible. This is the result. The bottom of the left page is a good place to start. If Waldo isn’t on the bottom half of the left page, then he’s probably not on the left page at all. The upper quarter of the right page is the next best place to look. Waldo seems to prefer to hide on the upper quarter of the right page. Next check the bottom right half of the right page. Waldo also has an aversion to the bottom left half of the right page. Don’t bother looking there until you’ve exhausted the other hot spots. Why is this relevant to us all? Let’s focus on digital media campaigns. The principal of writing a script to identify the optimal path to finding customer's can be applied to marketing schedules. So how might this look for a digital campaign?
- Let’s try targeting men, professionals aged between 30-50, with earnings above 40K on male websites. Our optimal path would look like this. Lets imagine this involves Facebook, GQ, and the business section of the Telegraaf. The targeting is strict, and we would certainly find customers. BUT, if we add in extra information about the target audience, their life stages, and interests the pattern would shift and we would find these additional customers. Now targeting and white lists are important – we have all seen the news recently. What is critical is to allow the data – your data – with your technology to work out the best path to find your customers. That path is your secret recipe and you should guard it closely. Last year we ran a research piece for a client here in the Netherlands. By developing an algorithm for that brand and using A/B testing, the campaign using the algorithm learned and 6.5% more targeting was used, what’s more is that after set up the campaign needed 20% less time to manage, and finally the campaign delivered a 35% increase in performance. In the future all brands will have their own algorithm. This will bring two key benefits: campaign effectiveness and the time it takes to manage those campaigns will reduce. This has huge implications for clients who have in housed, as well as for clients who partner with agencies.
- If you’re thinking why should we have a custom algorithm per brand this is why. First I asked Alice, our lead data scientist, how can I show this and she said – that’s easy! – it’s al about cars and sweets. Now, I have a sweet tooth so I was interested. Consider the car set up. This is a long term purchase. The set up is wave like, and the algorithm develops over the cycle – size of car, model, colours, in car tech – the life stage. If you were doing this manually those layers of knowledge would never truly feed through to your campaign output. Now consider sweets. This is impulse buying at its finest. See the differences! We need short, and sharp reach. We need consistency of targeting at critical times to drive impulse purchases. And, we need repetition and involvement. Having a custom algorithm will be the success criteria that differentiates brands by sales and the underlying costs to achieve those sales.
- I’d like to leave you with 3 concluding thoughts: Now is the time to play, build, test and refine your algorithm. Keep it a secret. Your brand is different, and your method to reach your customers should be too. Get to know how your programmatic technology really works. It will give you results and save you money. Invite specialists in to talk with you. And, for those of you still wondering where Waldo is, he is here. Thank you!